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Universal Music Group and TikTok enter into a new “multidimensional licensing agreement” that ends a dispute over royalties after songs by UMG artists such as Taylor Swift, Lady Gaga and Drake were removed from the social media platform. “announced.
Under the agreement, UMG says its “global family of artists, songwriters and labels will return their music to TikTok.”
The two companies have been in a very public feud for months over royalties paid by TikTok to UMG artists, with the music giant ultimately removing the songs from its artist roster in late January. UMG even published an open letter accusing TikTok of “trying to build a music-based business without paying a fair price for music.”
Signs of easing tensions between TikTok and UMG appeared in April, when Taylor Swift's music returned to the platform ahead of the release of her double album The Tortured Poets Department. It became clear.
The two companies have reached an agreement under which songs by artists represented by UMG and songwriters represented by Universal Music Publishing Group will return to TikTok “in due course.”
Sir Lucien Grainge, Chairman and CEO of Universal Music Group, said in a statement: We look forward to working with the team at TikTok to further engage artists and songwriters and drive innovation in fan engagement while monetizing social music. ”
“Music is an integral part of the TikTok ecosystem, and we are pleased to have found a path forward with Universal Music Group,” TikTok CEO Xiang Chu added in a statement. “We are committed to working together to advance the value, discovery and promotion of all of UMG's amazing artists and songwriters and deepen their ability to grow, connect and engage with the TikTok community. Masu.”